Written by Hitesh VyasMumbai | December 17, 2025 12:00 AM IST 2 min readTER includes all the total expenses charged to investors at any point of time.The Securities and Exchange Board of India’s (SEBI) board, which is scheduled to meet on Wednesday, is likely to discuss a range of regulatory reforms, including those on mutual funds norms and the Issue of Capital and Disclosure Requirements (ICDR) regulations.The board will also take up the recent recommendation given by the high-level committee (HLC) on conflicts of interest, investment and liabilities of its members and senior officials, along with a proposal to simplify disclosures in initial public offers (IPOs), sources said.In October this year, the markets regulator came out with a discussion paper on review of mutual fund regulations. The key proposals included reduction in the total expense ratio (TER) mutual fund charges by 15 basis points (bps) for open-ended schemes and up to 25 bps for closed ended schemes. The mutual fund industry has raised concerns over the revised TER.TER includes all the total expenses charged to investors at any point of time.In order to facilitate greater clarity and transparency, the markets regulator had recommended to exclude all statutory levy i.e. Securities Transaction Tax (STT), Goods and Services Tax (GST), Commodity Transaction Tax (CTT) and stamp duty from the expense ratio limits along with the present permissible expenses for brokerage, exchange and regulatory fees. © The Indian Express Pvt LtdTags:SebiSecurities and Exchange Board of India